IndigoVision has announced its half-year financial results. The company reported operating profits up by 14 percent to a record ￡1.59m ($2.5m) for the six-month period ending 31 January 2012. When currency fluctuations are factored in, operating profits rose by 25 percent.
IndigoVision continued its strong investment in research and development, increasing spending by 9 percent. Together with good cash flow and strong balance sheet, this places the business well for the future.
Total revenue for the period was ￡14.5m ($22.8m), some 4 percent lower than the previous year's strong first half. However, this level of sales was 4 percent higher than the second half of last year. Operating performance was also dramatically improved from last year's second half.
Operating efficiency improved, enabling increased investment in new product development despite an overall reduced spend on overheads.